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Thursday, 12 February 15
INDONESIAN COAL PRICE REFERENCE INCHED DOWN 1.44% IN FEBRUARY
 COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down Indonesian coal bench mark price this month to US$ 62.92 per MT. The February price reference for Indonesian coal fallen by US$ 0.92 or 1.44% month over month. The declared Indonesian Coal Price Reference for this month was the lowest since May 2009 or needed only a US$ 0.10 to fall to beat the historic lowest HBA since the establishment of this reference price.
The government declared February 2015 HBA has fallen to a 68-month low and Indonesian some small scale coal miners axe jobs and suspended mining operations or scale down their production to address the effect of the falling prices and demand. However, surprisingly, the large scale coal mine operators in Indonesia are planning to increase the production in 2015. The highest HBA was declared in February 2011 at US$ 127.05 per MT, which was US$ 64.13 per mt higher than this month’s declared HBA of $ 62.92 per MT.
The excess coal output compared to a low demand is a significant contributing factor for coal prices fall for last few years. The world’s recent oil price decline also further push down the current coal prices to deeper or pause the recovery of coal prices temporarily.
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Indonesian coal benchmark price for February 2015 was calculated based on calorific value of 6,322 kcal/kg (GAR), stated to be using a formula based on the January 2015 index average of ICI-1 (Indonesia Coal Index) 25%, Platts-5900 25%, NEX (Newcastle Export Index) 25%, and GC (globalCoal Index) 25%.
February Coal price reference was calculated considering coal with GCV (GAR) 6,322 kcal/kg, Total Moisture (arb) 8.00%, Total Sulphur 0.8% (arb), Ash Content 15 % (arb) and delivery free on Board (FOB) Vessel basis and applicable for spot contract, delivery between 1 – 28 February 2015.
The government of Indonesia is publishing a monthly coal price reference (HBA & HPB) since January 2009 to be used by coal producers for all spot and term contracts. However, the official implementation of HBA was commenced since September 2011. According to government regulation, the coal benchmark price must be used by the holders of production operation IUPs, special production operation IUP's, and CCoWs as a reference in determining the coal selling price for a particular period.
The declared HBA of February 2015 was 21.78 per cent or $17.52 lower compared to the same period in 2014. In the meantime, February 2015 HBA was US$ 64.13 or 50.48% lower compared to all time high HBA which was declared in February 2011.
February 2011 declared HBA was the highest since the launching of HBA by the government of Indonesia (US$ 127.05 / MT) and the lowest was declared in May 2009 (US$ 62.83/ MT).
The February price was only valid for the spot price (loading on or before 28 February 2015), while as for term price (up to 12 months supply), the average reference price (HPB) of the previous three months will be used to determine the selling price. (50 percent of the latest available month HPB, 30 per cent of one month prior HPB and 20 percent of two-month prior HPB).
The government also declared price marker for eight brands of Indonesia's coal, which are most commonly traded in the market. Those eight brands act as the benchmark and used to calculate other 66 coal types with a quality similar to the coal price markers.
For sales in the barge, the reference price is reduced by barging and trans-shipment costs from barge to the vessel. The government has recently issued a regulation (644.K/30/DJB/2013 dated 21 March 2013) to regulate or determine coal prices on FOB barge. The government also fixed the freight for barging, surveyor, insurance and etc., to determine FOB barge price. Transshipment cost US$ 4.00/MT + Surveyor cost US$ 0.25/MT + Insurance 0.80% per shipment + Barging cost (for 270 footer - (US$ 0.0221 X barging distance) + US$ 3.7406, for 270 - 330 footer - (US$ 0.0184 X barging distance) + US$ 3.1172 and > 330 footer - (US$ 0.0154 X barging distance) + US$ 2.6002.
The coal price reference is being established to fulfil the requirement of mining law 04/2009 and ministerial decree No.17/2010. In addition to that, it aims to increase government revenue from royalties from coal producers.
The coal prices are now trying to settle at a new level and it may not possible to see the price levels of year 2008 or 2011 once again in near future. The weak oil prices are now joining hands with the excess of coal supplies, weak demand, to delay the recovery of coal prices from this level to higher level in coming months. It would be nice to see coal prices settle at a point where both the producer and consumer can sustain.
Click here for full details of Indonesian coal price reference since January 2009.(cs).
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Thursday, 16 April 15
SHIPPING DEMAND TO SUFFER AS CHINESE SLOWDOWN CONFIRMED SAYS BIMCO'S CHIEF SHIPPING ANALYST - BIMCO
The Chinese economy grew by 7.0% y-o-y in the first quarter of 2015, according to National Bureau of Statistics in China. This is the weakest overa ...
Thursday, 16 April 15
INDIA: COAL IMPORTS RISE BY 33 PC TO 240 MT IN FY'15 - PTI
India’s coal imports in the just concluded FY 2015 increased by 33 per cent to about 240 million tonnes.
“Coal import have gone up ...
Thursday, 16 April 15
CAPESIZE: THE SUPPLY AND DEMAND SIDE ARE NOW SUFFERING HEAVILY - FEARNLEYS
Handy
It seems to be some standoff between owners and charterers in both hemispheres this week. Owners are raising their rates while charterers a ...
Thursday, 16 April 15
Q3 FOB RICHARDS BAY COAL SWAP CLOSED AT $ 55.67 PMT
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q2' 2015 declined month over month.
The Q2 swap has declined US$ 1.90 (3.17%) m ...
Wednesday, 15 April 15
PORT OF NEWCASTLE SHIPPED 13.63 MMT OF COAL IN MARCH; UP 4.41% M-O-M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1.227 billi ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Minerals Council of Australia
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- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- The University of Queensland
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
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- Attock Cement Pakistan Limited
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- Grasim Industreis Ltd - India
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- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- VISA Power Limited - India
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- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- ASAPP Information Group - India
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- Economic Council, Georgia
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- TNB Fuel Sdn Bhd - Malaysia
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Vijayanagar Sugar Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- Altura Mining Limited, Indonesia
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
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